Stanley Laman Group Ltd. Decreases Holdings in Proofpoint Inc (PFPT)

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Stanley Laman Group Ltd. trimmed its stake in shares of Proofpoint Inc (NASDAQ:PFPT) by 6.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,706 shares of the software maker’s stock after selling 4,349 shares during the quarter. Proofpoint accounts for 1.6% of Stanley Laman Group Ltd.’s portfolio, making the stock its 10th largest holding. Stanley Laman Group Ltd.’s holdings in Proofpoint were worth $6,455,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of Proofpoint by 2.5% in the 2nd quarter. FMR LLC now owns 1,240,931 shares of the software maker’s stock worth $143,092,000 after acquiring an additional 30,271 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Proofpoint by 73.3% in the 2nd quarter. Jennison Associates LLC now owns 575,544 shares of the software maker’s stock worth $66,366,000 after acquiring an additional 243,380 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Proofpoint by 2.9% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 558,930 shares of the software maker’s stock worth $64,450,000 after acquiring an additional 15,752 shares in the last quarter. Fred Alger Management Inc. boosted its holdings in shares of Proofpoint by 13.8% in the 2nd quarter. Fred Alger Management Inc. now owns 499,196 shares of the software maker’s stock worth $57,562,000 after acquiring an additional 60,681 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Proofpoint by 111.0% in the 3rd quarter. First Trust Advisors LP now owns 441,552 shares of the software maker’s stock worth $46,950,000 after acquiring an additional 232,321 shares in the last quarter. 95.54% of the stock is currently owned by institutional investors.

Several brokerages have recently commented on PFPT. Morgan Stanley reduced their target price on Proofpoint from $134.00 to $110.00 and set a “buy” rating on the stock in a report on Monday. Goldman Sachs Group raised Proofpoint from a “neutral” rating to a “buy” rating and set a $114.00 target price on the stock in a report on Monday. JMP Securities reduced their target price on Proofpoint from $145.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday. Wells Fargo & Co reduced their target price on Proofpoint from $150.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Monness Crespi & Hardt reduced their target price on Proofpoint from $140.00 to $115.00 and set a “buy” rating on the stock in a report on Friday. Six research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $125.05.

In other Proofpoint news, EVP David Knight sold 1,500 shares of the company’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $114.68, for a total transaction of $172,020.00. Following the completion of the sale, the executive vice president now owns 17,694 shares in the company, valued at approximately $2,029,147.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Paul R. Auvil III sold 40,000 shares of the company’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $113.70, for a total transaction of $4,548,000.00. Following the sale, the chief financial officer now owns 79,528 shares of the company’s stock, valued at approximately $9,042,333.60. The disclosure for this sale can be found here. Insiders have sold a total of 288,560 shares of company stock valued at $27,215,422 in the last quarter. Corporate insiders own 3.37% of the company’s stock.

PFPT stock traded down $2.16 during trading on Tuesday, hitting $87.62. The company had a trading volume of 38,298 shares, compared to its average volume of 1,413,804. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.65 and a quick ratio of 0.65. Proofpoint Inc has a 12 month low of $75.92 and a 12 month high of $130.27. The stock has a market capitalization of $4.28 billion, a PE ratio of -67.06 and a beta of 1.25.

Proofpoint (NASDAQ:PFPT) last posted its quarterly earnings data on Thursday, October 25th. The software maker reported $0.40 earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.73. The firm had revenue of $184.18 million during the quarter, compared to analysts’ expectations of $181.69 million. Proofpoint had a negative net margin of 14.08% and a negative return on equity of 14.27%. As a group, equities analysts expect that Proofpoint Inc will post -1.18 earnings per share for the current fiscal year.

Proofpoint Profile

Proofpoint, Inc operates as a security-as-a-service (SaaS) provider that enables large and mid-sized organizations to defend, protect, archive, and govern their sensitive data worldwide. It offers protection against advanced and targeted threats, including malicious attachments, polymorphic threats, zero-day exploits, user-transparent ‘drive-by' downloads, malicious Web links, hybrid threats, malware free attacks, and other penetration tactics.

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Institutional Ownership by Quarter for Proofpoint (NASDAQ:PFPT)

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